Strs Ohio Cuts Stake in Avnet (AVT)
Strs Ohio lowered its position in shares of Avnet (NYSE:AVT) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,587 shares of the technology company’s stock after selling 891 shares during the period. Strs Ohio’s holdings in Avnet were worth $526,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in AVT. Millennium Management LLC bought a new position in shares of Avnet during the 2nd quarter valued at approximately $531,000. Jane Street Group LLC bought a new stake in Avnet during the second quarter valued at about $210,000. FMR LLC boosted its position in Avnet by 9.6% during the second quarter. FMR LLC now owns 2,897,287 shares of the technology company’s stock valued at $124,265,000 after purchasing an additional 254,220 shares in the last quarter. First Hawaiian Bank bought a new stake in Avnet during the third quarter valued at about $631,000. Finally, Seven Eight Capital LP boosted its holdings in Avnet by 1,420.7% in the third quarter. Seven Eight Capital LP now owns 86,059 shares of the technology company’s stock worth $3,853,000 after acquiring an additional 80,400 shares in the last quarter. Hedge funds and other institutional investors own 96.44% of the company’s stock.
Several brokerages have weighed in on AVT. Zacks Investment Research downgraded Avnet from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Citigroup raised Avnet from a “sell” rating to a “neutral” rating in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.17.
NYSE AVT traded up $0.02 during trading on Monday, hitting $42.58. The company’s stock had a trading volume of 2,395 shares, compared to its average volume of 997,102. Avnet has a fifty-two week low of $33.55 and a fifty-two week high of $49.40.
Avnet (NYSE:AVT) last released its earnings results on Thursday, January 24th. The technology company reported $1.04 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.04. The firm had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year.
Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.
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